In attendance at Money20/20 USA, held in Las Vegas from October 22-25, FinTech Magazine speaks to Zac Maufe, Head of Regulated Industries at Google Cloud, on the ways Google is helping pioneer cloud migrations at financial services companies with its technology.
For our full interview with Maufe, you can click on the video link above.
Google Cloud: Realising cloud journeys for FIs
Speaking on ways Google is helping financial institutions modernise using its cloud services, Maufe says: “When thinking about it as Google, it’s about using all the incredible technology we have and applying it to problem-solving in financial services.
“At our heart, we’re a data company. So much of what we discuss with financial institutions is a data conversation, and how they can get insights out of data – which then becomes an AI, machine learning conversation.
“We’re really seeing a shift to these new technologies in financial services now. I’ve been in financial service for over twenty-five years, and while the key to enabling technology is data, it’s about the journey too.
“Given there’s so much technology in financial services, the question for FIs is: how do you start? One of the things we’re doing is helping customers figure out what the most important things are they should be focusing on.
“But it all comes back to having a modern data infrastructure and a foundational layer. And what’s happening now is Generative AI is shining even more of a spotlight on the topic of generating value out of this wealth of data.
“For years, I’ve said that financial services is data-rich and insight-poor. Changing this is going to continue to be the key going forward.”
Want to see more from Money20/20 USA? Stay tuned to FinTech Magazine as we roll out more content from the event over the coming days.
